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22 U.S.C. § 279c — Annual report and testimony on state of international financial system, IMF reform, and compliance with IMF agreements
Federal law — U.S. Code and appendices · legal_authorities
**(a) Reports** Not later than October 1 of each year, the Secretary of the Treasury shall submit to the Committees on Banking and Financial Services and on Ways and Means of the House of Representatives and the Committees on Finance and on Foreign Relations of the Senate a written report on (1) the progress (if any) made by the United States Executive Director at the International Monetary Fund in influencing the International Monetary Fund to adopt the policies and reform its internal procedures in the manner described in section 262o–2 of this title, and (2) the progress made by the International Monetary Fund in adopting and implementing the policies described in section 801(c)(1)(B) of the Foreign Operations, Export Financing, and Related Programs Appropriations Act, 2001.
**(b) Testimony** After submitting the report required by subsection (a) but not later than March 1 of each year, the Secretary of the Treasury shall appear before the Committee on Banking and Financial Services of the House of Representatives and the Committee on Foreign Relations of the Senate and present testimony on—
(1) any progress made in reforming the International Monetary Fund;
(2) the status of efforts to reform the international financial system;
(3) the compliance of countries which have received assistance from the International Monetary Fund with agreements made as a condition of receiving the assistance; and
(4) the status of implementation of international anti-money laundering and counterterrorist financing standards by the International Monetary Fund, the multilateral development banks, and other multilateral financial policymaking bodies.
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Source file: Laws/federal/codes/united-states-code/title-22/section-279c-annual-report-and-testimony-on-state-of-international-financial-system-i--351093f906.md
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Source location: Title 22, Chapter 7, § 279c; chapter-007-international-bureaus-congresses-etc.md
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**(a) Reports** Not later than October 1 of each year, the Secretary of the Treasury shall submit to the Committees on Banking and Financial Services and on Ways and Means of the House of Representatives and the Committees on Finance and on Foreign Relations of the Senate a written report on (1) the progress (if any) made by the United States Executive Director at the International Monetary Fund in influencing the International Monetary Fund to adopt the policies and reform its internal procedures in the manner described in section 262o–2 of this title, and (2) the progress made by the International Monetary Fund in adopting and implementing the policies described in section 801(c)(1)(B) of the Foreign Operations, Export Financing, and Related Programs Appropriations Act, 2001.
**(b) Testimony** After submitting the report required by subsection (a) but not later than March 1 of each year, the Secretary of the Treasury shall appear before the Committee on Banking and Financial Services of the House of Representatives and the Committee on Foreign Relations of the Senate and present testimony on—
(1) any progress made in reforming the International Monetary Fund;
(2) the status of efforts to reform the international financial system;
(3) the compliance of countries which have received assistance from the International Monetary Fund with agreements made as a condition of receiving the assistance; and
(4) the status of implementation of international anti-money laundering and counterterrorist financing standards by the International Monetary Fund, the multilateral development banks, and other multilateral financial policymaking bodies.
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Federal law — U.S. Code and appendices · legal_authorities
For the purposes of any civil action which may be brought within the United States, its territories or possessions, or the Commonwealth of Puerto Rico, by or against the Bank in accordance with the agreement, the Bank shall be deemed to be an inhabitant of the Federal judicial district in which its principal office within the United States or its agent appointed for the purpose of accepting service or notice of service is located, and any such action to which the Bank shall be a party shall be deemed to arise under the laws of the United States, and the district courts of the United States, including the courts enumerated in [section 460 of title 28](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title28-section460&num=0&edition=prelim), shall have original jurisdiction of any such action. When the Bank is defendant in any action in a State court, it may at any time before the trial thereof remove the action into the appropriate district court of the United States by following the procedure for removal provided in [section 1446 of title 28](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title28-section1446&num=0&edition=prelim).
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Federal law — U.S. Code and appendices · legal_authorities
Page 136
TITLE 22—FOREIGN RELATIONS AND INTERCOURSE
§ 279b
1 So in original. Probably should be capitalized.
1957—Pub. L. 85–141, § 11(b)(2), added section 544(b) to
act August 26, 1954, which section 544(b) amended this
section by increasing the maximum percentage con-
tribution from 31.5 to 33.33 per centum.
1956—Act July 18, 1956, increased authorized annual
appropriation from $2,000,000, to $3,000,000, and inserted
provisions limiting percentage contribution of United
States to total annual budget to not more than 31.5 per
centum.
1950—Joint Res. Sept. 21, 1950, increased authorized
annual appropriation from $1,250,000 to $2,000,000.
Statutory Notes and Related Subsidiaries
REPEALS
Section 709 of Pub. L. 87–195, cited as a credit to this
section, was repealed by section 401 of Pub. L. 87–565,
pt. IV, Aug. 1, 1962, 76 Stat. 263, except insofar as sec-
tion 709 affected this section.
Section 544(b) of act Aug. 26, 1954, cited as a credit to
this section, was repealed by Pub. L. 85–477, ch. IV,
§ 401(h), June 30, 1958, 72 Stat. 270, except insofar as such
section 544(b) affected this section.
Section 421 of act August 26, 1954, cited as a credit to
this section was repealed by section 8(n) of Pub. L.
85–141, except insofar as section 421 affected this sec-
tion.
SIMILAR PROVISIONS
Similar provisions were contained in the Department
of State Appropriation Act, 1946, act July 5, 1946, ch.
541, title I, 60 Stat. 453.
ANNUAL APPROPRIATIONS
Annual appropriations to meet the obligations of
membership in various international organizations
were contained in acts listed in a note set out under
section 269a of this title.
LIMITATION OF CONTRIBUTIONS
Contributions by United States, except for special
projects, limited to amount provided by Joint
Source: Supplied 2024 U.S. Code historical extraction · 22 U.S.C. § 279c
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